While our process for delivering personal advice changes from person to person, and job to job, in general it follows the following sequence of steps, starting with an initial meeting.

Advice Process Circle

The initial meeting typically lasts about 60 minutes and is without cost.


Financial Advice Options

It is our intention to provide every client with high quality financial information and advice in an efficient and compliant manner. As a potential client we believe you may benefit from knowing more about the process of engaging a financial adviser before we have our initial meeting. It is in your best interest to understand how WealthSpan goes about its business.

Obtaining advice from a licensed financial adviser may seem daunting and complex, and is foreign to most people. The more you understand your options, the better informed you’ll be.

WealthSpan complies with the financial services laws set out in Division 2 of Part 7.7A of the Corporations Act 2001. These laws dictate many of the business processes and practices we employ, which are all designed to protect your interests.

During your initial discussions with an adviser you will be asked a series of questions that will allow them to determine the nature of the service you require. Following the discussion you will be sent a proposed terms of engagement letter setting out our understanding of your situation, the subject matter you’re interested in, the scope and limitations of our advice, and the approach we believe is best suited to your needs.

WealthSpan is able to provide financial information, and advice on a broad range of topics although clients generally seek advice on a limited range of issues such as retirement, wealth creation or financial protection. Whatever you need, we will consider your situation carefully before providing you with an outline of our proposed approach and an estimate of the likely costs. This way you remain fully informed from the outset.

WealthSpan financial advisers are ASIC approved and licensed to provide financial information and financial advice to retail clients. The distinction between information and advice is very important as it has a material impact on what you will receive from us, the benefit you’ll gain and the costs you’ll incur. We will determine with you help whether you are better off obtaining information or information and advice.

Financial services legislation defines financial information to be information that is factual in nature and objectively ascertainable. Information is typically low cost and generally easy to come by. With respect to the type of financial information WealthSpan provides, it may cover a class of financial product such as superannuation, a particular financial product, or a financial strategy. It is important to understand that when you choose to receive only financial information, we will not make any recommendations or statements of opinion about the suitability of the related product or strategy. That said, based on what we know about you, we will do our utmost to present information that we believe is relevant and useful for you.

While certainly helpful, financial information alone may be of limited use unless you have the necessary expertise to apply the information to your situation. If you do not have the requisite financial knowledge or expertise you may benefit from obtaining information and financial advice. Only licensed financial advisers are permitted to provide advice that involves financial products. Financial advice is classed as being either general or personal in nature.   General advice does not take into account your objectives, financial situation and needs, whereas personal advice does. While potentially helpful, general advice is based on limited information and as such may not be appropriate for you. Personal advice does take into account your objectives, financial situation and needs, to formulate solutions. Financial advisers apply their skills, experience and expertise to arrive at recommendations and statements of opinion in relation to classes of financial products, specific financial products and financial strategies. Clients rely on the personal advice we provide and we believe personal advice provides the highest value. Personal advice provides you with a more comprehensive plan for achieving your financial objectives.

When providing personal financial advice we are obliged to:

  • act in your best interest,
  • identify areas of advice that are important even when you have not,
  • identify and take into account all relevant circumstances,
  • provide advice that is appropriate and likely to leave you in a better position,
  • warn you if our advice is based on incomplete or inaccurate information,
  • provide a clear, concise and compliant written record of our advice.